As you hunt for your dream living space, you’ll come across a variety of real estate jargon. Two of the most common terms you’ll encounter are “flats” and “apartments.” Often used interchangeably, there’s no recognisable difference between flat and apartment on the surface.

In general, a flat and an apartment refer to a personal living space that one can either rent or buy. It typically consists of a set number of rooms at the same storey, within a much larger building. But when you go into more depth, there are certain disparities between the two.

So, here’s an outline of the differences between apartments and flats.

Difference by definition

In India, a living space is termed as a flat when it’s a part of a building that’s itself part of a cluster of buildings. These types of localities are usually referred to as housing societies or townships. On the other hand, a living space is referred to as an apartment when it’s a part of a single building.

Additional Read: Top Properties in Kolkata with Minimum Maintenance Charges

Linguistic difference

Outside India, the same living space can be a flat or an apartment, depending on your geographical location. So, while the British prefer the word “flat,” Americans call it “apartment.” However, in India, the two terms are used interchangeably.

Difference by quality

In common parlance, flats are considered to be ordinary residences with standard amenities. Apartments, on the other hand, are recognised as posh and upscale flats. This is because apartments come in a wide variety of configurations and layouts, so they are generally considered to be above the standard.

But regardless of whether it’s called a flat or an apartment, you can fund your house purchase seamlessly with a home loan.

Difference by structure

Flats, as the name suggests, refer to living spaces that exist on a single story. Hence, the word “flat.” If you have a penthouse space with two stories, it’s not a flat. However, it can be classified as an apartment, as there’s no restriction on verticality.

But whether it’s a flat or a two-storeyed penthouse, the property is still eligible for home finance. You just need to pay the home loan interest rates over and above the principal amount.

Additional Read: Difference between builder’s floor and multi-storey apartment

The bottom line

For all intents and purposes, apartments and flats can be used interchangeably, as there’s not much difference. The primary difference between the two is that while flats are a part of housing societies, apartments belong to single buildings. All spaces essentially remain the same; only their linguistic usage and location derive the differences.

So, whether you’ve got your eyes on an apartment or a flat, you can cover the cost with Tata Capital’s convenient housing loans. Fast processing and disbursals, easy home loan eligibility, and affordable rates – get all of these and more with our loans.

So, why wait? Start planning your loan today using our home loan EMI calculator.

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